CADJPY: Elliottwave Structure suggests a double correction in wave 4

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Dec 30, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Revised short term Elliott Wave cycle suggests decline to 86.35 ended wave 3. From this level, wave 4 bounce is unfolding as a double three where wave (w) ended at 87.4, wave (x) ended at 86.36, and wave (y) of 4 is in progress towards 87.43 – 87.7 area before lower again. We don’t like buying the pair and expect sellers to appear from 87.43 – 87.7 area for at least 3 waves pullback to correct 12/2 cycle per Elliott Wave hedging idea.

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